Hindustan Petroleum Corporation Ltd (HPCL) reported a significant increase in its December quarter net profit to Rs 2,543.65 crore due to higher marketing margins. Despite unchanged income from operations, profits soared thanks to the retail fuel price freeze and operational efficiencies in refining and marketing divisions.
Related news
Hindustan Unilever Limited (HUL) reported a 1.4% increase in revenue for Q3, reaching Rs 15,408 crore, despite weak demand in urban areas due to high food inflation. The company's net profit surged 19% to Rs 3,001 crore, thanks to gains from the sale of its Pureit business. Consumers have been opting for smaller product packs across various segments.
Indian family offices are increasingly investing in startups across various sectors like chip technology, robotics, and green energy, aiming for higher returns. Larger family offices and new-age families are allocating significant portions of their portfolios to startups with solid business models and IPO potential, further boosting the startup ecosystem.
Stock market crash: It's mayhem in the Indian stock markets for the last few months with Sensex and Nifty correction entering double-digits. What should investors do? Where can you put your money, if not in equity markets? We take a look:
Finance minister Nirmala Sitharaman attributes the recent sell-off by foreign institutional investors in Indian equities to profit booking. Officials clarify that FIIs are returning to their home countries amid global uncertainties, and emphasize India's position as a strong, resilient, and fast-growing economy.
RBI deputy governor Rajeshwar Rao highlights the shift in household savings from traditional bank deposits to mutual funds and capital markets, affecting banks' funding costs and margins. Rao warns against over-reliance on wholesale funding and urges banks to develop sophisticated stress-testing methodologies and maintain adequate liquidity buffers. He also emphasizes the need for NBFCs to diversify their funding sources.
Budget 2025 income tax expectations: Financial experts suggest that Finance Minister Nirmala Sitharaman, in Budget 2025, should tweak NPS to boost retirement savings by increasing tax deduction ceilings and revising withdrawal options, making it more attractive for small savers and middle-income earners.
L&T Chairman SN Subrahmanyan advocates for a 90-hour work week and working on Sundays, expressing that excessive work hours are key to global competitiveness. His remarks, citing China's intensive work culture, have sparked backlash on social media.
The Sensex plunged nearly 1,200 points on Friday, marking its fifth consecutive day of losses. Foreign fund selling, a hawkish US Fed, a weak rupee, and poor trade data fueled the decline. The index has erased recent gains, leaving investors poorer by ₹9 lakh crore this week.
Home-cooked meal costs rose in December, with vegetarian thalis up 6% to Rs 31.6 per plate and non-vegetarian thalis increasing 12% to Rs 63.3 per plate, driven by higher prices of tomatoes, potatoes, and broiler chicken. The cost rise was partially offset by an 11% drop in LPG prices.
The road transport ministry in New Delhi proposed a tax rebate of up to 50% for buyers who submit a scrapping certificate for their BS-I, BS-II, or older vehicles. This initiative aims to reduce vehicular pollution by encouraging citizens to replace old, polluting vehicles with newer models, providing significant financial incentives.